Selbyville, Delaware, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to the research report by Global Market Insights Inc., The Electrical Safety Personal Protective Equipment Market was estimated at USD 14.5 billion in 2020 and is projected to surpass a valuation of USD 21.5 billion by 2027, registering a CAGR of 5% from 2021 to 2027. The latest report gives a detailed analysis of market size & estimations, wavering market trends, drivers & opportunities, competitive scenario, top winning strategies, and major investment pockets.
Electrical safety personal protective equipment (PPE) refers to protective gear that defends electrical workers against hazards that can typically occur while working on electrical equipment. Increasing focus on enhancing safety of employees prone to electrical hazards is likely to fuel the growth of the industry over the forecast period. Moreover, growing energy consumption across the globe is also slated to impel business development.
Notably, growing demand for balaclavas, a garment that goes over the worker’s head as part of the PPE, among electricians, maintenance workers, and operators working in power generation, transmission, and distribution systems to protect against arc flash hazards is expected to further propel the electrical safety PPE market share in the coming years.
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Hand protection electrical safety PPE is widely used in different industries, such as mining, construction, chemical, and manufacturing, among others. Driven by its extensive utilization, the head protection product segment is estimated to amass notable gains at over 5.5% CAGR in the electrical safety personal protective equipment market through the assessment period.
Key reasons for electrical safety PPE market growth:
- Mounting product demand for employee safety on construction sites.
- Prominent usage for preventing occupational accidents in manufacturing sector.
- Extensive product adoption in oil & gas applications.
2027 forecasts show ‘construction’ segment retaining its dominance:
In terms of end-use, the construction segment is estimated to be valued at more than USD 1.5 billion by 2027. Electrical safety PPE used in the construction sector include helmets, safety glasses, earplugs, and footwear. PPE are highly useful in preventing possible hazards occurring at the workplace, such as by pointed nails and falling objects. Subsequently, increasing number of infrastructure and construction projects is set to fuel the segmental growth in the forthcoming years.
Asia Pacific to maintain top status in terms of revenue:
The Asia Pacific electrical safety PPE market was valued at over USD 3 billion in 2020 and is projected to witness sizable growth over the forecast period. The proliferating manufacturing sector in China backed by supportive government initiatives, such as Made in China 2025 that aims to manufacture higher value products and services in the region, primarily catering to the aerospace, pharmaceutical, automotive, IT, semiconductors, and robotics industries, among others, is anticipated to stimulate product demand in China over the following years.
In addition, escalating focus of the Chinese government on prioritizing worker safety issues, along with issuing a compliance to require employers to provide workers with appropriate safety devices, is speculated to foster the electrical safety personal protective equipment market outlook in the nation through 2027.
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Impact of COVID-19 pandemic on electrical safety personal protective equipment market:
The COVID-19 pandemic disrupted virtually all industries, bringing operations to a halt in various areas, including the construction sector. With successful vaccination drives and soaring government focus on economic recovery, the construction industry is progressively regaining its pre-pandemic momentum. As a result, resumption of construction projects has propelled the need to protect workers against both recognized workplace dangers and the COVID-19 infection, which has been favorable for market outlook during the pandemic.
Leading market players:
Some key players in the electrical safety personal protective equipment industry are 3M, Mallcom, Honeywell, Scott Safety, and Kimberly-Clark Corp, among others.
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
